SG Americas Securities LLC cut its holdings in shares of Nikola Co. (NASDAQ:NKLA – Get Rating) by 16.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 835,382 shares of the company’s stock after selling 166,473 shares during the quarter. SG Americas Securities LLC owned about 0.17% of Nikola worth $1,804,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Captrust Financial Advisors boosted its position in Nikola by 97.2% during the first quarter. Captrust Financial Advisors now owns 4,657 shares of the company’s stock worth $50,000 after acquiring an additional 2,296 shares during the last quarter. Quantbot Technologies LP purchased a new position in Nikola during the first quarter worth about $29,000. Kestra Advisory Services LLC raised its stake in Nikola by 4.3% during the third quarter. Kestra Advisory Services LLC now owns 79,625 shares of the company’s stock worth $280,000 after purchasing an additional 3,305 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in Nikola by 4.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 79,059 shares of the company’s stock worth $847,000 after purchasing an additional 3,523 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Nikola by 9.2% during the second quarter. Principal Financial Group Inc. now owns 45,302 shares of the company’s stock worth $216,000 after purchasing an additional 3,811 shares during the period. 20.86% of the stock is currently owned by institutional investors and hedge funds.
Nikola Price Performance
Nikola stock opened at $0.82 on Tuesday. The company’s 50 day simple moving average is $1.64 and its 200-day simple moving average is $2.29. Nikola Co. has a 1 year low of $0.81 and a 1 year high of $8.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 0.82.
Nikola (NASDAQ:NKLA – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.19. The firm had revenue of $6.56 million during the quarter, compared to analysts’ expectations of $34.12 million. Nikola had a negative net margin of 1,543.02% and a negative return on equity of 135.68%. Equities research analysts forecast that Nikola Co. will post -1.13 EPS for the current year.
Analyst Ratings Changes
A number of equities analysts have commented on NKLA shares. Morgan Stanley started coverage on shares of Nikola in a research note on Monday, March 13th. They set an “equal weight” rating and a $3.00 target price on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Nikola from $5.00 to $3.00 and set a “hold” rating on the stock in a research note on Friday, February 24th. Cowen reduced their price target on shares of Nikola from $10.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, February 24th. Finally, BTIG Research downgraded shares of Nikola from a “buy” rating to a “neutral” rating in a research note on Friday, March 31st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Nikola has an average rating of “Hold” and a consensus price target of $6.00.
Nikola Profile
Nikola Corp. engages in the provision of zero-emissions transportation and infrastructure solutions. It designs and manufactures battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems and hydrogen fueling station infrastructure. The company was founded by Trevor Milton in 2015 and is headquartered in Phoenix, AZ.